Boustead Holding Industries Corporation Berhad announced that BHIC Submarine Engineering Services Sdn Bhd, a wholly owned subsidiary has accepted the Letter of Award from the Ministry of Defence worth RM1.09 billion.
The contract is for the In-Service Support 2 Performance Based Contract for the Royal Malaysian Navy Prime Minister Class Submarines.
BHIC said a formal contract between the Government of Malaysia and BSES will be finalised and executed at a later date.
Save for Tan Sri Dato’ Wira Aziah Ali, (Dr.) Salihin Abang and Fahmy Ismail who are the Directors of BHIC and BSES, none of the directors or substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the Contract
